Why Shares Of ToughBuilt Industries Are Tanking Today

Shares of small-cap penny stock ToughBuilt Industries, Inc. TBLT are trading lower after the company priced a $6 million offering.

ToughBuilt Industries, Inc. today announced the pricing of a public offering of 3,157,895 shares of its common stock at an offering price to the public of $1.90 per share (or pre-funded warrant) and associated warrant; are exercisable upon issuance, and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about June 22, 2022, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

ToughBuilt Industries Inc designs and distributes home improvement and construction product lines under the brand name TOUGHBUILT.

TBLT Price Action: ToughBuilt Industries, Inc. has traded between $187.50 and $1.48 over a 52-week period.

The stock was trading about 48.5% lower at $1.57 per share on Friday at the time of publication.